$ACM experienced a technical increase of 6.88% over 24 hours, outperforming the general market due to surpassing the 30-day moving average (SMA) and the important resistance level at $1.10. The RSI-7 rebound at ~57.5 indicates the possibility of continuing upward momentum.
2. Buying support at $1.05 and targeting higher levels
Traders' buying on August 9 led to a breakout at the $1.05 level, with expectations of moving towards $1.145 if buying pressure continues.
3. Negative effects from Token Unlocks
On July 1, a portion of ACM tokens worth approximately $200,000 was unlocked, increasing potential selling pressure, especially in markets with limited liquidity.
4. Removal of the token from CoinDCX exchange in India
In June, ACM was removed from the CoinDCX exchange due to low trading volume, which negatively affected liquidity and access for users in the Indian market.
5. A wave of high activity and trading despite pressures
The market is experiencing notable volatility. Later, ACM recorded a drop of 6.27% over 24 hours and a negative weekly performance of nearly 9.8%, amid shrinking liquidity and a return of regulatory fears.
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Quick summary:
Subject Current Trend Potential Impact
Technical Momentum (Technical Analysis) Positive Potential rise towards $1.17
Token Unlocks Negative Potential increase in supply and price drop
Removal from CoinDCX Negative Reduced access and liquidity
Recent price volatility Mixed Strong movements led by speculators
